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Pine‑Richland projects $10.9 million shortfall driven by $11.0 million capital transfer in draft budget
Summary
District finance staff presented a draft proposed final general fund budget showing a $10,937,632 projected deficit largely attributable to an $11,011,000 capital fund transfer for planned capital projects; board plans further review in May and formal tax‑rate action in June.
District finance staff presented a proposed final general fund budget and 10‑year capital funding plan that shows a projected budgetary gap driven largely by a planned capital fund transfer.
Chris (district staff) told the board the model projects $115,325,649 in expenditures and $104,380,017 in revenues for a current budgetary deficit of $10,937,632. He and staff said that almost all of that gap results from an $11,011,000 planned capital fund transfer for capital projects (noted in the district's capital plan, including HVAC work). Staff said that if those capital transfers were excluded, the…
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